Trading platform Robinhood has launched its crypto app in the EU, with a Bitcoin rewards program that will see customers earn a percentage of their trading volume back every month in BTC.
According to a blog post announcing the news, Robinhood Crypto will be rolled out to “all eligible customers in the European Union” along with a rewards program based on customers’ total trading volume. , with Bitcoin prizes deposited into their account. The referral program also offers “up to 1 BTC” for signing up and referring up to 300 friends (although Robinhood is quick to note that “98% of rewards are worth €10–€20 in BTC,” with a lucky 2% of the participants receiving a full 1 BTC).
Robinhood Crypto’s Bitcoin rewards start at 0.10% for trading volumes between €0.10 and €100,000, rising to 0.325% for volumes over €1 million, and are locked to the user’s account within in 30 days after it is given. Users must also sell €100 a month to receive the reward, otherwise they will be reinforced until they reach the €100 threshold.
Robinhood Crypto’s EU launch comes on the heels of Robinhood’s UK launch last week. The platform launched with trading in over 25 cryptocurrencies includingand with additional tokens, crypto transfers, crypto staking and crypto learning rewards promised in 2024. At launch, users will not be able to transfer crypto in and out of the platform, although Robinhood promises that “crypto transfers should be available in the future.”
Earlier this year, the trading platform cut support for, and after the US Securities and Exchange Commission labeled them unregistered securities in lawsuits against crypto exchanges and .
In a statement accompanying the launch, Robinhood Crypto GM Johann Kerbart said that cryptocurrency “plays an important role in our mission to democratize finance for everyone,” adding that the “comprehensive” regulation of crypto assets in the EU caused his decision to anchor the international trading platform. regional expansion plans.
The EU’s Markets in Crypto Assets (MiCA) regulation, seen as a landmark in crypto legislation, was passed earlier this year. The legislation takes a unified approach to crypto asset regulation across all 27 EU member states, meaning companies approved in one EU country can access other markets in the bloc. with minimal paperwork. It also imposes high disclosure standards on crypto firms and sets rules for token issuers and crypto asset service providers.
The Robinhood Crypto app is available for EU citizens aged over 18 in eligible countries, and can be downloaded on Apple’s iOS App Store and Google Play.